W. P. Carey Inc. (NYSE:WPC) Shares Bought by Rench Wealth Management Inc.

Rench Wealth Management Inc. increased its stake in W. P. Carey Inc. (NYSE:WPCGet Rating) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,694 shares of the real estate investment trust’s stock after purchasing an additional 233 shares during the period. W. P. Carey accounts for about 1.5% of Rench Wealth Management Inc.’s portfolio, making the stock its 26th largest position. Rench Wealth Management Inc.’s holdings in W. P. Carey were worth $3,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its stake in W. P. Carey by 1.2% during the 4th quarter. D.A. Davidson & CO. now owns 11,094 shares of the real estate investment trust’s stock valued at $910,000 after acquiring an additional 130 shares during the period. SRS Capital Advisors Inc. lifted its stake in W. P. Carey by 1.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 11,126 shares of the real estate investment trust’s stock valued at $913,000 after acquiring an additional 134 shares during the period. Richard P Slaughter Associates Inc lifted its stake in W. P. Carey by 1.0% during the 4th quarter. Richard P Slaughter Associates Inc now owns 15,471 shares of the real estate investment trust’s stock valued at $1,269,000 after acquiring an additional 147 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its stake in W. P. Carey by 8.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,940 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 153 shares during the period. Finally, Keudell Morrison Wealth Management lifted its stake in W. P. Carey by 5.2% during the 3rd quarter. Keudell Morrison Wealth Management now owns 3,122 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 153 shares during the period. Institutional investors own 58.86% of the company’s stock.

Several brokerages have commented on WPC. Raymond James began coverage on shares of W. P. Carey in a research note on Thursday, April 14th. They set an “outperform” rating and a $90.00 price objective for the company. StockNews.com upgraded shares of W. P. Carey from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th. JMP Securities began coverage on shares of W. P. Carey in a report on Tuesday, May 10th. They set an “outperform” rating and a $87.00 target price for the company. Finally, Zacks Investment Research lowered shares of W. P. Carey from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $88.71.

NYSE WPC traded up $0.40 on Wednesday, hitting $83.14. The company had a trading volume of 592,212 shares, compared to its average volume of 934,239. The company has a market capitalization of $16.04 billion, a PE ratio of 30.12, a PEG ratio of 7.86 and a beta of 0.70. The company’s fifty day moving average price is $81.51 and its 200-day moving average price is $79.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.20 and a quick ratio of 0.20. W. P. Carey Inc. has a 12-month low of $73.02 and a 12-month high of $86.48.

W. P. Carey (NYSE:WPCGet Rating) last issued its quarterly earnings results on Friday, April 29th. The real estate investment trust reported $0.82 EPS for the quarter, topping the consensus estimate of $0.43 by $0.39. The company had revenue of $344.10 million during the quarter, compared to analyst estimates of $340.96 million. W. P. Carey had a net margin of 37.65% and a return on equity of 6.88%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 5.24 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were issued a $1.057 dividend. This represents a $4.23 annualized dividend and a yield of 5.09%. The ex-dividend date was Wednesday, March 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s payout ratio is presently 153.26%.

W. P. Carey Profile (Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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